New Zealand Legislation: Regulations

29 How regulations affect trust deed

• The terms and conditions of the mortgage diversion facility referred to in these regulations—

  • (a) are implied terms of the trust deed of any KiwiSaver scheme that participates in the facility; and

  • (b) override any express terms of the trust deed to the contrary.

  Regulation 29: added, on 1 July 2007, by regulation 4 of the KiwiSaver Amendment Regulations 2007 (SR 2007/152).